GoTyme Bank is one of South Africa's pioneering digital banks, operating entirely without traditional brick-and-mortar branches. Originally launched as TymeBank in February 2019, the bank rebranded to GoTyme Bank in January 2026, aligning its South African identity with the GoTyme branding already in use across markets in the Philippines, Singapore, Indonesia, and Vietnam. The rebrand reflects the institution's broader positioning as a global digital-first banking group under the Tyme Group umbrella.
The story of GoTyme Bank begins earlier than its 2019 public launch. The "Tyme" concept was first developed as part of a Deloitte Consulting initiative, initially funded by telecommunications provider MTN Group. It became an independent business in June 2012. By 2015, the Commonwealth Bank of Australia (CBA) had acquired a 100% stake in Tyme, renaming the entity TymeDigital by Commonwealth Bank SA. A landmark moment arrived on 28 September 2017, when TymeDigital received a full banking licence from the South African Reserve Bank (SARB) — the first full banking licence issued by the SARB since 1999. This regulatory milestone cemented the institution's credibility and paved the way for the public launch of TymeBank in 2019.
Today, GoTyme Bank serves millions of South Africans through a fully digital platform — accessible via its mobile application, website, and a network of kiosk-style Customer Hubs — and positions itself as a challenger to the country's traditional "Big Four" retail banks.
Registration and Banking Licence
GoTyme Bank (operating as TymeBank Limited, the registered legal entity) holds a full banking licence granted by the South African Reserve Bank (SARB). As a registered bank in South Africa, the bank is subject to supervision by both the SARB Prudential Authority and the Financial Sector Conduct Authority (FSCA).
How to verify GoTyme Bank's registration:
- Visit the South African Reserve Bank website: https://www.resbank.co.za
- Navigate to "Regulated Institutions" → "Registered Banks"
- Search for "TymeBank" (the registered legal name) in the list of licensed banks
- Confirm the registration number and licence status
Alternatively, the FSCA register can be accessed at https://www.fsca.co.za for conduct-related queries.
Deposits held at GoTyme Bank are covered under the Deposit Insurance Scheme (DIS) administered through the Corporation for Deposit Insurance (CODI), which provides depositor protection up to R100,000 per depositor in the event of bank failure. This protection applies to eligible deposits including fixed deposit accounts.
Ownership and Corporate Structure
GoTyme Bank is a division of Tyme Group, a digital banking fintech with global operations. The Tyme Group's primary investors include prominent family-owned conglomerates and institutional capital. In its South African operations, GoTyme Bank has historically received investment from the African Rainbow Capital group (associated with billionaire Patrice Motsepe), which played a key role in funding the original TymeBank launch. The Gokongwei Group of the Philippines holds a significant stake in the broader Tyme Group, underpinning the GoTyme rebranding strategy.
GoTyme Bank's registered office is in Johannesburg, Gauteng, South Africa.
Mission and Market Position
GoTyme Bank's stated mission is to make banking simple, affordable, and accessible for all South Africans. It differentiates itself through:
- Zero monthly account fees on its core banking products
- Competitive savings rates that consistently rank among the highest in the South African market
- Fully digital onboarding — open an account in minutes from a smartphone
- Customer Hubs — physical kiosk points (often located within Pick n Pay and other retail stores) for in-person assistance
- A commitment to financial inclusion for underbanked South Africans
History and Key Milestones
| Year | Milestone |
|---|---|
| 2012 | Tyme concept founded as standalone business (from Deloitte/MTN project) |
| 2015 | Commonwealth Bank of Australia acquires 100% of Tyme |
| 2017 | First full banking licence from SARB since 1999 |
| 2019 | TymeBank publicly launches as South Africa's first fully digital bank |
| 2021 | Reaches 3 million customers milestone |
| 2023 | GoTyme Bank launches in the Philippines |
| 2026 | TymeBank rebrands to GoTyme Bank in South Africa (January 2026) |
| 2026 | New GoTyme Bank app goes live (22 January 2026) |
Contacts and Customer Support
| Channel | Details |
|---|---|
| Phone | 0860 999 119 |
| General Email | service@gotyme.co.za |
| Complaints | complaints@gotyme.co.za |
| Technical Support | application.support@gotyme.co.za |
| In-App Chat | Available daily 07:00–18:00 |
| Call Centre | Mon–Fri 08:00–17:00; Sat, Sun & Public Holidays 07:00–18:00 |
| Physical Hubs | Located in Pick n Pay stores and select retail centres nationwide |
| Website | https://gotyme.co.za |
Frequently Asked Questions About GoTyme Bank
Q: Is GoTyme Bank the same as TymeBank? Yes. GoTyme Bank is the rebranded name for TymeBank. The legal entity remains TymeBank Limited, but the bank trades publicly as GoTyme Bank since January 2026.
Q: Is my money safe at GoTyme Bank? GoTyme Bank holds a full SARB banking licence and deposits are protected by the Deposit Insurance Scheme (CODI) up to R100,000 per depositor. This makes it a fully regulated, protected institution.
Q: Does GoTyme Bank have physical branches? Not in the traditional sense. The bank operates through Customer Hubs (kiosks) located inside retail stores like Pick n Pay, and full account management is handled through the app and website.
Q: Who owns GoTyme Bank? GoTyme Bank is part of the Tyme Group, which has backing from African Rainbow Capital and the Gokongwei Group. It operates as a division of TymeBank Limited, a SARB-licensed bank.
Q: How long has GoTyme Bank been operating in South Africa? Under the TymeBank name since February 2019 — making it over seven years of operation in the South African market as of 2026.